Core Viewpoint - The Trump administration is considering a new semiconductor policy that requires domestic semiconductor production to match imports, with potential tariffs of up to 100% for non-compliance, highlighting ongoing trade tensions and the importance of domestic manufacturing [1][3][4]. Group 1: Semiconductor Policy - The proposed policy mandates that semiconductor companies maintain a 1:1 ratio of domestically produced chips to imported chips, with significant tariffs for those who fail to comply [3]. - Discussions between U.S. Commerce Secretary Howard Lutnick and semiconductor executives indicate a focus on reducing reliance on foreign chip production due to economic security concerns [3][4]. - Companies like Apple and Dell may face challenges in tracking chip sources and balancing production between the U.S. and overseas, while firms like TSMC and Micron Technology could benefit from increased domestic production [3][4]. Group 2: Tariff Implications - A new round of tariffs announced by Trump is set to take effect on October 1, with average tariff rates rising from approximately 2.5% at the beginning of the year to around 21% [5]. - The OECD predicts that the overall effective tariff rate on U.S. imports has increased from 15.4% in mid-May to 19.5% by the end of August, marking the highest level since 1933 [6]. - The impact of tariffs on economic activity is expected to grow, with potential further increases in tariffs posing risks to economic growth and stability [6].